An international policy based on confrontation can have “catastrophic consequences”. Chinese President Xi Jinping warned about this in a speech to the World Economic Forum (WEF) in Davos on Monday. “We need to let go of the ‘Cold War mentality’ and move towards peaceful coexistence,” he said.
The WEF in Davos, Switzerland is traditionally regarded as the ultimate meeting place for leaders from the political and economic world. But due to the corona pandemic, the event will only take place online for the second year in a row. In his speech, Chinese President Xi warned of the dangers of protectionism, unilateralism and power politics. Beijing often uses those terms to criticize the United States.
Power Blocks
“History has proven time and again that confrontation does not solve problems, but has catastrophic consequences,” said the Chinese leader. He also warned against “small exclusive circles”, or the bringing together of power blocs, which polarize the world. President Xi did not go into detail, but he is believed to be referring to the alliances US President Joe Biden is forging with European and Asian allies against China.
Finally, President Xi stated that economic, scientific and technological issues should not be politicized. This undermines efforts to tackle common challenges and goes against “true multilateralism”.
New Silk Road
China is trying to create a ‘new silk road’ with countries in Asia, Africa and Europe with new regional free trade agreements. But the country is regularly accused by the EU and US of using dumping practices, protectionist measures and restrictions on access to foreign companies.
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